Middle class and senior citizens are the worst hit

The authorities seem to be bankrupt of ideas on as to how to improve and strengthen the economy. It looks obsessed with augmenting revenues at any cost ignoring the need to nurture the savings which are very essential to provide the support system for the economy to grow. Unfortunately the Government has a tendency to sideline the middle class with whose support it came to power. The Government very badly treated them in the budget recently announced and no tax benefit has been given. The savings of the Community which basically come from retired middle class and lower middle class people have been on the decline since the new Government came to power despite a tall claim of a decline in inflation. The taxes have been on the increase and honest tax payers are taken for a ride by the Government. The service tax literally takes away the charm of living as the common man is hit very badly even for his cup of coffee or tea. The black money holders thrive and enjoy life and avenues are  very many  for tax evaders in the economy. Many money spinners do not seem to be knowing the existence of something called Income Tax. Fudging of accounts and false reporting are suspected without any check or accountability. Corporates collect various types of taxes but how correctly they report and pay the taxes to Government no one Knows.Salaried class in particular and honest tax payers are taken to task and their grouse against the government is growing day by day. Perhaps the next election will show the impact. The Government's dependence on the bureaucracy who still seem to be maintaining its loyalty to the previous Government also seems to be taking this Government for a ride. Senior Citizens are the worst hit by this Government's policies and definitely this approach of the Government can and will never be tolerated. 

Dr T V Gopalakrishnan

( Comment given in Money Life )